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18/06/2012
EU Ruling On Gender Will See Rise In Insurance For Women
New rules banning gender discrimination will see women drivers facing an insurance hike of €100.
Women currently pay much less for insurance than men because statistics show them to be less risky drivers but an EU ruling will ban companies from charging different insurance rates to men and women from December.
The new ruling will result in an expected 11% increase in motor premiums for young women drivers.
New life insurance premiums for women are also set to jump by up to a third in line with the ruling.
While the insurance industry here remains tight-lipped about the scale of increases, one Irish motor industry source said young female drivers may suffer even larger increases of up to 25pc.
That's because Ireland, like the UK, has a particularly large gap between male and female premiums -- with young men here sometimes paying twice as much for insurance.
For example, a male driver aged 21 could expect to get a car insurance quote of €1,632, while a woman of the same age with the same car would be quoted just €885 with the same insurer.
(H)
Women currently pay much less for insurance than men because statistics show them to be less risky drivers but an EU ruling will ban companies from charging different insurance rates to men and women from December.
The new ruling will result in an expected 11% increase in motor premiums for young women drivers.
New life insurance premiums for women are also set to jump by up to a third in line with the ruling.
While the insurance industry here remains tight-lipped about the scale of increases, one Irish motor industry source said young female drivers may suffer even larger increases of up to 25pc.
That's because Ireland, like the UK, has a particularly large gap between male and female premiums -- with young men here sometimes paying twice as much for insurance.
For example, a male driver aged 21 could expect to get a car insurance quote of €1,632, while a woman of the same age with the same car would be quoted just €885 with the same insurer.
(H)
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